UK house prices fall by 2.4% in July - Breaking The News

UK house prices fall by 2.4% in July

7 August

1 min read

EPA / ANDY RAIN

The annual rate of house price growth in the United Kingdom came in at negative 2.4% in July, according to data published in the Halifax House Price Index report on Monday.

On a monthly basis, house prices fell by 0.3%, bringing the figure down for the fourth consecutive month. The average house price stood at £285,044.

"Prospects for the UK housing market remain closely linked to the performance of the wider economy. Several factors are providing support, notably strong wage growth, running at around +7% annually. And, while the uptick in unemployment is likely to restrain that somewhat, it seems unlikely to reach levels that would trigger a sharp deterioration in conditions," Kim Kinnaird, Director of Halifax Mortgages, stated.

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